The challenge of managing modern cloud costs across multiple services
Managing cloud spend across multiple providers, services, and CDNs can be challenging because it requires a high level of visibility and control over all of the different costs associated with them. This can include costs for Compute, storage, networking, and additional services, as well as costs for usage, data transfer, and other charges.
In another aspect, this data can be difficult to collect, process, and analyze, which can make it difficult to identify patterns or trends in your cloud spend.
The FinOps challenge; Accountability and Collaboration
Managing such complex spend can also be difficult because it requires coordination and collaboration between different teams within an organization, such as IT, finance, and operations. This can be challenging because different teams may have different priorities, goals, and levels of expertise when it comes to managing cloud spend.
Seeing all of your cloud spend in one dashboard is an essential aspect of FinOps. One of the key principles of FinOps is cost management, which involves identifying, tracking, and optimizing cloud spend.
Finout's solution: The MegaBill
Having a centralized view of your cloud spend in one dashboard, what we call a MegaBill, allows you to easily identify areas where you can reduce costs and make more informed decisions about how to allocate your cloud budget.
This aligns with the FinOps principle of financial governance, which focuses on aligning IT and finance teams to improve the visibility, accountability and control of cloud costs.
Additionally, by having a clear view of your cloud spend over time, you can identify trends and continuously optimize your cloud usage to reduce costs and better align with your business goals. This aligns with the principle of continuous optimization, which is the ongoing process of identifying, implementing and measuring cost-saving opportunities and improvements.
Use cases example:
See your multi-tenant environment spend in one place
Understand cost anomalies at any granularity, down to the resource level.
See coverage alongside spend to better understand your RIs usage.
See cloud services spend such as Datadog, Databriks, MongoDB and CircleCI right beside your providers and K8s.
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